Within his freshly published memoir, named Ithaki, the former premier Tsipras spares no criticism while he examines that turbulent era during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected the maverick economist Yanis Varoufakis as his finance minister largely due to the latter's international reputation and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief possessed his own motives that included advancing his publications as well as testing out his own economic models using Greece instead of truly advocating its financial survival.
Tsipras noted that the talks to stave off bankruptcy were “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Talks
During tense negotiations, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay not only the country's future and the punishing austerity measures required in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts how his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
He further claimed that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
